Banking Terminology

Below is a list of terms related to bank accounts and bank statements, along with explanations of information we might request. 

• Bank country – Identifies the country in which the bank is located.
• Account name - The account holder's name (your name) or the type of account you have. For further clarification, please check directly with your bank.
• Account currency – The base currency of your bank account (e.g., EUR, USD, JPY). IMPORTANT: If your bank account currency is not listed in the dropdown menu, kindly add the currency of your trading account.
• Bank name - The name of the bank or financial institution where your bank account is held.
• Account number – A unique numerical code used to identify your bank account.
• IBAN - The International Bank Account Number consists of up to 32 alphanumeric characters, comprising a country code, two check digits and a long and detailed bank account number used in bank wire transfers. IMPORTANT: You can locate your IBAN number in your Bank Statement or you can ask directly to your bank. While adding your IBAN, make sure that there are no spaces between the letters and numbers.
• SWIFT/BIC - An international bank code that identifies individual banks worldwide. A SWIFT/BIC code consists of 8 or 11 characters.